No Third World Country Can Float It Currency With US Dollars And Survive. - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / No Third World Country Can Float It Currency With US Dollars And Survive. (2580 Views)
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| No Third World Country Can Float It Currency With US Dollars And Survive. by Bullfallo(m): 5:25pm On Feb 18 |
No 3rd world country or developing country can float it currency with pounds, euro and USD and survive it. Not even the Russia rubbles or any asian country for that matter. The USD is the world favorite currency it has a value and appreciate even if they don’t export anything from the US. Tinubu is paying subsidy bigger than previous administration even when Nigerians are buying the same fuel 4 times the previous price. 8 Likes 1 Share |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by abhosts(m): 5:26pm On Feb 18 |
How can you float a currency that nobody outside Nigeria wants? Even the CFA has more demand than the Naira in West Africa. Can Tissue paper be floated? 34 Likes 1 Share |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by abhosts(m): 5:35pm On Feb 18 |
blacknp: You that is defending cruelty and evil of APC Day and Night on the internet would suffer the everlasting wrath of Jehovah God. Bookmark this message, you wild animal. 43 Likes 4 Shares |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by blacknp(m): 5:38pm On Feb 18 |
abhosts:Na so, a Demon will accuse others of their own evil. Confused Hypocrite, evil APC are not Nigerians like you abi? 5 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Enugurangers: 5:43pm On Feb 18 |
A simple Google can cure ignorance. In Africa alone, Angola, Madagascar, Uganda, and Malawi has a floating currency. South Africa has a floating currency too. 17 Likes 3 Shares |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Chimarto: 5:45pm On Feb 18 |
Nsogbu di |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by kettykin: 5:46pm On Feb 18 |
Please keep some of these secrets let's watch the incurable, incorrigible buffoon who fools his gullible followers into believing he built Lagos make a big fool of himself 1 Like 1 Share |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Enugurangers: 5:48pm On Feb 18 |
blacknp:I reported him as well. Some people are to immature to hold an argument or pass on their points withouy insulting. 3 Likes 1 Share |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by blacknp(m): 5:50pm On Feb 18 |
Enugurangers:Thank You. |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by adamusuleiman2: 5:50pm On Feb 18 |
Bullfallo:Lol. This is pure ignorance with confidence. India has a floating currency, same as South Africa, Brazil and many other countries like Pakistan, Myanmar, Burma. Infact, almost the whole of South America is floating it's currency despite them being close to the USA. 5 Likes 3 Shares |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by abhosts(m): 5:51pm On Feb 18 |
blacknp: Look at this mentality ill degenerate that has been cursed by the universe. I expressed my opinion on a topic and you started the cursing. Now you are calling on mods? I multiply the pain that APC has caused Nigerians by a million and send it into your spirit soul and body. 14 Likes 3 Shares |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by BOSSkesh(m): 5:51pm On Feb 18 |
Ignorant cow 1 Like |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Tingotoe: 5:54pm On Feb 18 |
Buhari made the same statement as far back as 2016 and he was right. Tinubu was goaded into doing so by his masters at the world bank and IMF 1 Like |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Anambra1stSonTV: 5:57pm On Feb 18 |
Westerners are good with propaganda not management of economy, I know them as extravagant people, Obasanjo perfectly understood each tribe strengths and weaknesses during his administration, these guys are clueless only to make silly noise, less than one year they have messed the economy, history will never forget what Nigerians are facing under them this period, thank God their people are the ones incharge of the economy from president, CBN, minister of finance etc. Propaganda have expiring date These are brain behind Obj success in economy 4 Likes
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| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Felabrity: 6:08pm On Feb 18 |
10k loading |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by brain54(m): 6:18pm On Feb 18 |
blacknp:You insulted him first... And then run to the mods to report him. If he is punished then you have to too for starting it! 8 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by nairalanda1(m): 6:22pm On Feb 18 |
Bullfallo: We are floating the currency because there isn't any spare dollars to defend the naira. In one month in 2014 , the then government spent 5 billion dollars to defend the naira. Our effective forex reserve is 4 billion today. We are all borrowed up and in severe debt. As for subsidy, that has to go because cost of refining petrol has shot up. That is why subsidy Costa too much. We are paying the price for not diversifying our economy away from oil. If we want a strong currency we have to find more dollars. Now. 3 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by seborrhic: 6:29pm On Feb 18 |
The template the mentally challenged, narcoleptic bablubulu should have used is very simple: Get sworn in,sit down in office,get your kitchen cabinet to critically look at goverment funds,input and output,proffer ideas on how the subsidy removal is to be done,meanwhile get enough palliatives in place,including flooding the transport space with enough commercial vehicles at prices that would not only be affordable,but minimally profit or even non profit nor non loss making,distribute to all state governments and ask them to do a counterpart contribution,at least 100 per state and expand with subsidy removal funds as you deregulate. What does this transport scheme achieve?:While making transport still affordable with goverment vehicles,it forces the private ones to curtail any excessive transport fare increase by indirect market forces intervention. Then you see if you would do it in one fell swoop or in stages. Meanwhile you withhold complete floating of the Naira while appointing a financial expert but with the character of a Buba Marwa as CBN governor to climb down unapologetically on round tripping by banks and other money laundering causes of devaluation. When you have achieved monetary policy discipline and stability the CBN can not only have the leeway but a clear sight to allow a "regulated deregulated"currency market.This may take up to a year or 2 to achieve. Also during this 1 to 2 year period the minimum wage should have been increased not just in the public,but private sectors to improve the purchasing power. By the second or even third year or so you would have set the parameters right to have achieved a full subsidy removal but still keeping a strict "REGULATED DEREGULATED"foreign exchange market. But when you have a former drug dealer approaching senility,you get what we have and those close to him are very happy things are going this way because he has made several of them billionaires just by his stupidity of floating a naira that cannot withstand a full floating,yesterday,floating,today or tomorrow. 1 Like |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by gratiaeo(m): 6:37pm On Feb 18 |
blacknp:Imagine this supporter of failed and corrupt government causing someone because he said the obvious truth. In the whole world any currency performing below standard is regarded as tissue paper 1 Like |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by gratiaeo(m): 6:41pm On Feb 18 |
blacknp:Lol. If those you are calling goes through this thread they will ban you for life 3 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by gratiaeo(m): 6:43pm On Feb 18 |
blacknp:I have reported you as well because you started it 3 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by seborrhic: 6:49pm On Feb 18 |
nairalanda1:So I now ask:Are you ready to buy fuel at 1400-1500/litre because at ₦1650/$ that should be the market price of fuel? Will you now start printing money to increase the purchasing power of Nigerians when you then allow market forces to determine fuel price? You people stand arguments on its head when defending Tinubu. Why is he now paying subsidy caused by naira devaluation through the backdoor if he confidently sticks to the belief fuel should be totally deregulated while naira is completely floated? 1 Like |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Melagros(m): 6:53pm On Feb 18 |
COMRADES, I disagree with the op, the situation was not as bad as it is today |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by nairalanda1(m): 6:55pm On Feb 18 |
seborrhic: That's why I said in my original comment that we are facing the effect of not diversifying And by the way I am not defending tinubu or any other government. There are things he should be doing that he is not doing. But oga, since when did showing how bad our economy is amount to a defence of tinubu who in many ways is a part of why we are in the bad situation we are in? The truth is, we never diversified our economy. Tinubu right now is looking for loans . We don't know how he plans to diversify the economy, meaning things are bleak. And this is the man you think I am defending? Oga, read my comment again and this one and think for once. We are broke. Apc should not have been voted in in 2023. I wish they lost. Don't call me a tinubu supporter again. |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by adekolaelect(m): 6:56pm On Feb 18 |
abhosts:You have to be cilveled for people to get your message .bragging on media can not solve your hunger s problem . 2 Likes |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by seborrhic: 6:58pm On Feb 18 |
nairalanda1:Sorry,thought you were defending the indefensible. |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by adamusuleiman2: 7:00pm On Feb 18 |
Anambra1stSonTV:But SEasterners hate Soludo and prefer a failure like Peter Obi. 2 Likes 1 Share |
| Re: No Third World Country Can Float It Currency With US Dollars And Survive. by mu2sa2: 7:01pm On Feb 18 |
The dollar is the world's currency today and that's why the United States cannot go broke. If the US government needs money they will just print more dollars - the rest of the world subsidises the dollar. Pity Nigeria that's not masively producing for export but foolishly chooses to peg its currency to the dollar. |
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